New Stock Exchange ZAR X Launches

ZAR X will launch today with the listing of both Senwes and Senwesbel Ltd. ZAR X is South Africa’s newest stock exchange. They say they are a low-cost, efficient trading platform empowering ordinary South Africans with shareholder opportunities. I cant wait to see what they can do!

Source : https://twitter.com/ZARX_xchange

Brian Molefe For Parliament

On Friday, parliament announced that Molefe will be sworn in as an ANC MP “to fill a vacancy on the North West list of ANC Members of Parliament, which is depleted”, said parliamentary spokesperson Moloto Mothapo. Yesterday, the Sunday Independent reported that Molefe was “sneaked through the back-door in an attempt to position him for a cabinet position” and the news caused “ructions” in the North West province’s ANC structures, with various branches saying he wasn’t a member. There are reports that ANC MP Abram Mudau was pushed to resign from Parliament to make a space for Molefe. The ANC doesnt learn. Have they forgotten what happened when they parachuted Thoko Didiza into Tshwane?

Source : https://goo.gl/EGpOyK

Dipuo Peters Fires ACSA Board Members 

Transport Minister Dipuo Peters has dismissed four Airports Company SA (Acsa) board members. McDonald Kenosi Moroka, Kate Matlou, Bajabulile Luthuli and Chwayita Mabude were served with notices of their immediate dismissal from the Acsa board in their inboxes just after midday on Thursday, when they were expecting to make representations at a shareholders’ meeting about why they should remain on
the board.

Source : https://goo.gl/G0eXPc

Kraft Heinz Drops Bid To Buy Unilever 

Kraft Heinz said in a joint statement with Unilever that it had “amicably agreed to withdraw its proposal for a combination of the two companies”. A takeover would have created the world’s second-largest consumer goods group by sales behind Nestlé, combining brands such as Kraft Mac & Cheese and Heinz Tomato Ketchup with Unilever’s Dove soap and Magnum ice cream. Kraft Heinz had wanted to buy Unilever for a staggering $143 billion.

Source : https://goo.gl/hgZhRo

Medical Marijuana Given The Green Light In S.A

Government has taken its first official steps in legalising the manufacture of marijuana for medicinal use, according to a report by The Mercury. Under this Act, medical practitioners can apply to the Council for permission to access and prescribe unregistered medicines – including cannabis – for their patients in certain exceptional circumstances. Authorisation from the council is dependent on the submission of an appropriate dosage regimen and acceptable justification for the proposed and intended use.

Source : https://goo.gl/Wwuxvz

IMF To Help Somalia Print First Bank Notes Since 1990

The IMF will help in the printing of new Somali shilling notes that will come into circulation this year, alongside the dollar that’s been the main means of payment, and will replace fake or old currency printed during 1990-91. About 98 percent of the currency circulating in the country is fake hence the US dollar is preferred as legal tender instead. Printing of the new notes, which will initially be in small denominations, is aimed at restoring the Central Bank of Somalia’s powers to set monetary policy.

Source: https://goo.gl/JcxRgS

R78 Million Cocaine Bust At ORT

Cocaine worth an estimated street value of R78m was confiscated at the Oliver Tambo International Airport by SARS Customs officials on Saturday. En route from Sao Paulo to Nairobi, Kenya, the 271kg of narcotics were found in a cargo warehouse during routine operations. The specific shipment indicated as cosmetics on official documentation.

Source : https://goo.gl/wl3rIs

Currencies And Stuff

JSE 52’447 – Oil 56.09 – Rand/USD 13.10 – Rand/GBP 16.24 – Rand/EUR 13.90

 

 

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Author: The Turk Report

Simplifying complex money matters

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